TechFlow news, according to Bloomberg, the U.S. Securities and Exchange Commission (SEC) is expected to respond to bitcoin ETF applications filed by Bitwise, BlackRock, VanEck, WisdomTree, and Invesco before this weekend. The regulator may reject, approve, or delay the applications. The Bitwise application will be reviewed by Friday, with the others considered the following day, meaning the SEC could weigh in before the weekend.
The SEC previously delayed 21Shares’ and ARK Investment Management’s spot bitcoin applications in early August and has rejected numerous such applications over the past decade. Roxanna Islam, Vice President of Research and Head of Sector and Industry Research at VettaFi, said: “We can expect the SEC to delay more applications, especially after they already postponed their decision on ARK’s spot bitcoin ETF earlier this month. Progress on bitcoin ETFs is unlikely until after the SEC’s decision regarding Grayscale’s lawsuit.”
